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SmarTrend Watching for Potential Pullback in Shares of Home Depot Inc After 1.73% Gain

By Nick Russo

Home Depot Inc (NYSE:HD) traded in a range yesterday that spanned from a low of $151.70 to a high of $153.92. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $150.94 on volume of 3.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Home Depot Inc share prices have moved between a 52-week high of $160.86 and a 52-week low of $119.20 and are now trading 29% above that low price at $153.33 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.7%.

SmarTrend is tracking the current trend status for Home Depot Inc and will alert subscribers who have HD in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders home depot inc

Ticker(s): HD